Heico (NYSE:HEI.A) Shares Cross Above 200 Day Moving Average – Here’s Why

Heico Corporation (NYSE:HEI.A) crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $239.55 and traded as high as $245.76. Heico shares last traded at $244.7980, with a volume of 281,147 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating. According to data from MarketBeat, Heico has a consensus rating of “Strong Buy”.

Heico Stock Up 5.1%

The stock’s fifty day moving average price is $233.71 and its 200 day moving average price is $239.55. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The stock has a market cap of $34.21 billion, a P/E ratio of 40.73 and a beta of 1.13.

Heico (NYSE:HEI.A) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $1.67 earnings per share (EPS) for the quarter. Heico had a net margin of 16.38% and a return on equity of 18.00%. The company had revenue of $1.41 billion during the quarter.

Insiders Place Their Bets

In other news, Director Thomas Culligan bought 795 shares of Heico stock in a transaction that occurred on Thursday, October 8th. The shares were acquired at an average price of $220.30 per share, with a total value of $175,138.50. Following the completion of the purchase, the director directly owned 11,825 shares in the company, valued at $2,605,047.50. The trade was a 7.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Hildebrandt purchased 795 shares of the stock in a transaction on Thursday, October 8th. The shares were purchased at an average price of $220.30 per share, for a total transaction of $175,138.50. Following the transaction, the director directly owned 50,218 shares of the company’s stock, valued at approximately $11,063,025.40. This represents a 1.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 5,362 shares of company stock valued at $1,225,430 over the last quarter. Insiders own 9.76% of the company’s stock.

Heico Company Profile

HEICO Corporation is a diversified aerospace, defense, electronics and industrial technology company headquartered in Hollywood, Florida. Founded in 1957, the company develops and manufactures products used by commercial and regional airlines, aircraft manufacturers, defense contractors, space companies, medical organizations, telecommunications providers and other industrial customers worldwide.

HEICO operates through two primary business segments. Its Flight Support Group supplies FAA-approved replacement parts and provides repair, overhaul and other maintenance services for commercial and military aircraft.